If all prices rise by 5 percent and money income remains constant, the new budget line will have
A) a steeper slope.
B) a flatter slope.
C) a positive slope.
D) the same slope.
D
Economics
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If a natural monopoly is allowed to set its price above its average total cost, then
A) the company makes an economic profit. B) the company incurs an economic loss. C) competitors will enter the market. D) the company will produce more than the efficient amount of output.
Economics
If the interest rate is 11%, $1500 received at the end of 12 years is worth how much today?
a. 500(1+.11)12 b. 500/(1 + .11)12 c. 500/(1 + 11)12. d. 500
Economics